NOTICE OF APPROVAL COMMONWEALTH OF AUSTRALIA Higher Education Support Act 2003 Higher Education Provider Approval No. 1 of 2020 Approval under section 16-25, decision under paragraph 16-50(1a), and Notice of Approval under paragraph 16-50(1b) to the Higher Education Support Act 2003 (the Act). I, Damian Coburn, a delegate of the Minister for Education and Training for the purposes of 16-25, 16-50 and 16-60 of the Higher Education Support Act 2003 (the Act): (a) approve the application of Performing Arts Education Pty Ltd (ABN: 11 009 772 481, ACN: 009 772 481) as a higher education provider in accordance with section 16-25 of the Act; (b) impose conditions on the approval of Performing Arts Education Pty Ltd as a higher education provider in accordance with paragraph 16-60 of the Act; (c) note that this approval decides the application of Performing Arts Education Pty Ltd as required by paragraph 16-50 (1a) of the Act; and (d) hereby give Performing Arts Education Pty Ltd written notice of my approval as required by paragraph 16-50 (1b) of the Act. Conditions 1. Performing Arts Education Pty Ltd must maintain adequate liquidity levels as measured by a current ratio of 1.0 or above for the period of its approval. 2. Performing Arts Education Pty Ltd must maintain a positive equity position for the period of its approval. 3. Performing Arts Education Pty Ltd will not provide any new guarantees or loans to its directors or related entities that could have a material effect on its finances. 4. Performing Arts Education Pty Ltd must not offer its assets as security for the benefit of any other person or entity including associated entities except as a consequence of any commercial loan arrangements with a recognised financial institution for the period of its approval. Associated entity has the meaning given by section 50AAA of the Corporations Act 2001. 5. Performing Arts Education Pty Ltd must provide the department responsible for administering the Higher Education Support Act 2003 with all required financial information as specified in the Financial Viability Instructions, on an annual basis by no later than 31 December each year for the period of its approval. 6. Performing Arts Education Pty Ltd must, in writing, advise the department responsible for administering the Higher Education Support Act 2003 of any events affecting Performing Arts Education Pty Ltd or a related entity that may significantly affect the capacity of Performing Arts Education Pty Ltd to meet the quality and accountability requirements under the Act for the period of its approval. The written advice must be provided within 10 working days of the event occurring. 7. Performing Arts Education Pty Ltd must inform the department responsible for administering the Higher Education Support Act 2003 in writing of changes to directors, company structure and/or its constitution for the period of its approval. The written advice must be provided within 10 working days of the event occurring. 8. Performing Arts Education Pty Ltd must, as soon as practicable, advise the department responsible for administering the Higher Education Support Act 2003 of any regulatory activity undertaken or being undertaken by the Tertiary Education Quality and Standards Authority or any other regulatory body which may impact upon its operations for the period of its approval. 9. Performing Arts Education Pty Ltd must, as soon as practicable, advise the department responsible for administering the Higher Education Support Act 2003 of any regulatory activity that has been or is being undertaken in relation to Australian Consumer Law and/or fair trading laws for the period of its approval. 10. Performing Arts Education Pty Ltd is only able to offer FEE-HELP loans in respect of the following courses: * Bachelor of Screen and Stage (Acting) * Bachelor of Screen and Stage (Screen Production) * Bachelor of Screen and Stage (Song and Dance) Should Performing Arts Education Pty Ltd wish to offer FEE-HELP loans in respect of any other course approval must be granted by the appropriate delegate of the department responsible for administering the Higher Education Support Act 2003. 11. Performing Arts Education Pty Ltd must provide the department with interim management reports, comprising a balance sheet and profit and loss statement attested to by a director, for the six month period ended 31 December and year ended 30 June each year. These statements must be provided within 4 weeks following the conclusion of the relevant period. 12. Performing Arts Education Pty Ltd must provide the department with interim management reports, comprising a balance sheet and profit and loss statement attested to by a director, for the three month period ending 30 September 2020. These statements must be provided within 4 weeks following the conclusion of that period. In accordance with section 16-55 of the Act and section 12 of the Legislation Act 2003 this notice of approval commences on the day after it is registered on the Federal Register of Legislation. Date: 13 March 2020 Damian Coburn Branch Manager HELP and Provider Integrity Branch Delegate of the Minister for Education, Skills and Employment